Creative Financial Designs Inc. ADV Sells 497 Shares of DigitalOcean Holdings, Inc. (NYSE:DOCN)

Creative Financial Designs Inc. ADV lessened its holdings in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 13.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,247 shares of the company’s stock after selling 497 shares during the period. Creative Financial Designs Inc. ADV’s holdings in DigitalOcean were worth $111,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DOCN. Harbor Investment Advisory LLC grew its holdings in DigitalOcean by 380.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 720 shares of the company’s stock worth $25,000 after acquiring an additional 570 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of DigitalOcean by 150.4% during the third quarter. Advisors Asset Management Inc. now owns 974 shares of the company’s stock worth $39,000 after purchasing an additional 585 shares in the last quarter. JTC Employer Solutions Trustee Ltd bought a new stake in shares of DigitalOcean during the fourth quarter valued at approximately $45,000. SBI Securities Co. Ltd. acquired a new stake in shares of DigitalOcean in the fourth quarter valued at approximately $66,000. Finally, KBC Group NV raised its position in DigitalOcean by 47.6% in the 3rd quarter. KBC Group NV now owns 2,096 shares of the company’s stock worth $85,000 after purchasing an additional 676 shares during the last quarter. 49.77% of the stock is currently owned by institutional investors and hedge funds.

DigitalOcean Stock Up 0.4 %

Shares of NYSE DOCN opened at $36.56 on Friday. DigitalOcean Holdings, Inc. has a twelve month low of $26.63 and a twelve month high of $47.02. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 43.01, a P/E/G ratio of 3.12 and a beta of 1.80. The company’s fifty day moving average is $39.95 and its 200-day moving average is $39.29.

Insider Buying and Selling

In related news, insider Bratin Saha sold 3,948 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $36.63, for a total transaction of $144,615.24. Following the completion of the sale, the insider now directly owns 358,696 shares of the company’s stock, valued at approximately $13,139,034.48. This represents a 1.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.74% of the stock is currently owned by company insiders.

Analyst Ratings Changes

DOCN has been the subject of several research reports. Needham & Company LLC reissued a “hold” rating on shares of DigitalOcean in a research note on Wednesday, February 26th. UBS Group lifted their price objective on DigitalOcean from $39.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. JMP Securities upped their target price on shares of DigitalOcean from $47.00 to $55.00 and gave the company a “market outperform” rating in a research report on Monday, January 27th. Canaccord Genuity Group lifted their price target on shares of DigitalOcean from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Finally, Stifel Nicolaus increased their price objective on shares of DigitalOcean from $35.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, DigitalOcean has a consensus rating of “Hold” and a consensus price target of $43.27.

About DigitalOcean

DigitalOcean Holdings, Inc, through its subsidiaries, operates a cloud computing platform in North America, Europe, Asia, and internationally. The company’s platform provides on-demand infrastructure and platform tools for developers, start-ups, and small and growing digital businesses. It also offers infrastructure-as-a-service (IaaS) solutions comprising compute and storage services, as well as networking projects, including Cloud Firewalls software, Managed Load Balancers software, and Virtual Private Cloud (VPC).